Hbk Investments L P buys $50,711,637 stake in Macy's (M)

Macy's (M) : Hbk Investments L P scooped up 1,107,687 additional shares in Macy's during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,220,203 shares of Macy's which is valued at $50,711,637.Macy's makes up approximately 1.13% of Hbk Investments L P’s portfolio.

Other Hedge Funds, Including , Systematic Financial Management Lp added M to its portfolio by purchasing 224,225 company shares during the most recent quarter which is valued at $9,318,791. Macy's makes up approx 0.13% of Systematic Financial Management Lp’s portfolio. Capital One National Association sold out all of its stake in M during the most recent quarter. The investment firm sold 6,621 shares of M which is valued $241,600.Louisiana State Employees Retirement System reduced its stake in M by selling 600 shares or 2.97% in the most recent quarter. The Hedge Fund company now holds 19,600 shares of M which is valued at $704,228. Macy's makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.

Macy's closed down -0.02 points or -0.05% at $43.03 with 50,55,445 shares getting traded on Monday. Post opening the session at $42.72, the shares hit an intraday low of $41.955 and an intraday high of $43.22 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Macy's reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.24 based on the information available during the earnings call on Nov 10, 2016. Analyst had a consensus of $0.41. The company had revenue of $5626.00 million for the quarter, compared to analysts expectations of $5633.54 million. The company’s revenue was down -4.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Investors should note that on Oct 28, 2016, Macy's announced a cash dividend of $0.3775. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Jan 3, 2017.

Many Wall Street Analysts have commented on Macy's. Company shares were Upgraded by Deutsche Bank on Oct 31, 2016 to ” Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .Macy's was Initiated by Guggenheim to “Buy” on Sep 30, 2016. Macy's was Downgraded by Credit Suisse to ” Neutral” on Sep 28, 2016.

Macy’s Inc. is an omnichannel retail company operating stores Websites (macys.com bloomingdales.com and bluemercury.com) and mobile. As of January 31 2015 the operations of the Company included 823 stores with an area of approximately 147400000 square feet in 45 states of the United States the District of Columbia Guam and Puerto Rico. Of these 823 stores 447 were owned 267 were leased and 109 stores were operated under arrangements where the Company owned the building and leased the land. The Company operates its stores under the names of Macy’s Bloomingdale’s Bloomingdale’s Outlet and Bluemercury. The Company operates 13 Bloomingdale’s outlet stores. Bloomingdale’s in Dubai the United Arab Emirates is operated under a license agreement with Al Tayer Insignia a company of Al Tayer Group LLC.

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